EPFO Pension Update: No Proposal to Increase Minimum Pension to 7500 Says Centre
Centre clarifies no immediate plan to raise EPFO minimum pension to 7500, despite growing demands, protests, and expectations, citing financial sustainability and ongoing system changes for pension scheme stability.
- EPFO pension increase to 7500 has no approval yet.
- EPFO minimum pension remains at 1000 per month.
- Centre says EPFO pension change needs financial stability.
The long discussed proposal to raise the EPFO minimum pension to 7500 has now received a clear response from the central government, putting an end to widespread speculation. Despite rising expectations among pensioners, the government has stated that there is currently no plan to increase the pension limit.
Union Labour and Employment Minister Mansukh Mandaviya addressed the issue in Parliament, confirming that the minimum pension under the Employees Pension Scheme will continue at 1000 per month. He explained that any revision would require careful evaluation of the financial stability of the pension fund before taking a decision.
In recent months, reports suggested that the EPFO pension could be increased significantly, especially around the time of the Union Budget announcement. However, the government did not make any such announcement, and the latest clarification confirms that no immediate changes are being considered.
The demand for increasing the EPFO minimum pension has been gaining momentum due to rising living costs, medical expenses, and inflation. Employee unions and pensioners have been actively raising their voices, including protests held in New Delhi, urging the government to revise the pension amount to better support retirees.
The matter has also reached the Supreme Court, with several petitions filed seeking a higher pension limit. At the same time, discussions have taken place between employee representatives and government officials regarding possible reforms.
The government highlighted that it already contributes 1.16 percent of wages towards the pension fund, providing additional support to the scheme. Officials also pointed out that only employees with a basic salary up to 15000 fall under the current pension scheme framework.
Meanwhile, EPFO is working on improving its online system following court directions, allowing members to submit joint applications more easily. While these administrative changes are underway, any decision on increasing the pension will depend on long term financial considerations.
For now, the centre has made it clear that there is no proposal under consideration to raise the EPFO minimum pension to 7500, even as demands continue from various sections.
